Top Glove founder spread wings to education, acquires stake at Minda Global

TOP Glove Corporation Bhd executive chairman Tan Sri Lim Wee Chai became a minority shareholder of education group, Minda Global Bhd.

“This is a private investment, separate from the Top Glove Group. I have always been passionate about education as it is instrumental in enabling people, organisations and nations to advance.” Bloomberg reported Lim as saying.

The glove tycoon bought the shares in a recent placement. He now holds less than 5% of the Cyberjaya-based private education company.

Minda runs several tertiary educational institutions including University of Cyberjaya, Asia Metropolitan University and Asia Metropolitan International School.

Lim is Top Glove’s biggest shareholder, holding 33.6% stake at the US$3.3 bil company.

He also owns a substantial stake in property developer Tropicana Corp Bhd, where he serves as chairman.

On related matter, a staff from Minda Global refused to comment on the matter stating they were oblivious of it.

“As per our announcement to Bursa Malaysia, we have placed our shares to two companies,” the staff told FocusM.

The news has spared interest in Minda Global stock, pushing it up 7 sen or 58.33% to 19 sen with a hefty 630.95 million shares traded, thus making the counter the most actively traded stock in Bursa Malaysia today.

For its FY2020, Minda Global has narrowed its net loss to -RM9.39 mil (FY2019: -RM37.78 mil) with from a revenue of RM89.68 mil (FY2019: RM97.5 mil). – April 13, 2021.

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